At least that's what I heard. A guy is injured, gets a lawyer to sue the company responsible for him getting injured, and whatever he gets, the lawyer gets half for defending him. I guess I could see maybe 25%, but not half !
2007-07-13 14:07:43 · 12 answers · asked by scaredeycat 3 in Politics & Government ➔ Law & Ethics
They have to sign a retainer agreement before they do anything. It's almost always 33% as the standard attorney fee for personal injury matters. They also might have done an hourly agreement which can vary depending on how much per hour that attorney typically charges. Also, if the attorneys office cost advanced anything like medical record fees deposition fees, etc. then they have a right to be paid back and that is not pay for legal services. Legal services are services an attorney performed. "A lawyers time is their stock and trade." - Abraham Lincoln. (Most people don't seem to understand that concept.)
2007-07-13 14:14:23 · answer #1 · answered by Eisbär 7 · 0⤊ 0⤋
First of all, any contingency fee based on settlement must be approved by the client, before the case even proceeds to a settlement. So, if an attorney gets 50%, it's because that's what the client agreed to up front when the whole process started.
Second, I've never heard of a legitimate attorney asking for or getting 50%. Standard in the industry is between 25% and 40%, depending on the type of case, and depending on whether costs (postage, copying, court fees, etc.) is paid first, or comes out of the attorney's percentage.
Third, state regulations for the ethical conduct of attorneys set limits on contingency fees, how much they can be, how the contingency agreement is written (must always be written), and so on. And most will not allow a fee this high (though, laws vary by state). So even if a client would agree to this, the state forbids it.
Also, remember that if a lawyer is being paid a contingency fee, they get nothing if the case fails, is lost, or if the client was wrong.
So, yes, it's generally unfair for lawyers to get half, which is why lawyer's don't ask and state's don't allow that split.
2007-07-13 16:08:22 · answer #2 · answered by coragryph 7 · 1⤊ 0⤋
It's negotiable. Injured people can find lawyers that will take less if they shop around. But those lawyers may be not be as good!
Usually, it is a scale. Something like 10% if it settles without filing a lawsuit, 25% if it settles before trial, and 50% if it goes to trial.
In these types of cases, the lawyer is taking a big risk. 50% of nothing is nothing. So if the client does not win his case, the lawyer has spent days and weeks working for free.
2007-07-13 14:16:02 · answer #3 · answered by raichasays 7 · 0⤊ 0⤋
While it might not seem fair, it really depends on the case. Most people who enter into contingency fees do not have the money upfront to pay for court costs and attorney fees. It really can be a gamble for the attorney. If that injuried person have received nothing, so would have the attorney who paid court costs and etc out of the firm's pocket. I think 50% sounds high, but if you don't have the details, you don't know how big the risk was. Some states limit the % in certain types of cases, but I believe 1/3rd is common.
2007-07-13 14:46:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It depends on the case. Some lawyers charge higher fees than others. If it's a particularly complex case, or one where there is a lack of evidence and it's difficult to prove, then you need the best of the best lawyer, and half seems to be fair.
2007-07-13 14:14:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋
A third is much more common for speculative cases, which is when a lawyer takes a risk of not being paid. The alternative is to retain an attorney who then works at standard billing rates, which generally run upwards of $200/hour.
2007-07-13 14:17:07 · answer #6 · answered by nightserf 5 · 1⤊ 0⤋
Your lawyer will get whatever % you decide initially prior to any settlement. We had a lawyer for our dispute with an insurance company. They only took 10%. Negotiate the % first. If you are not happy with it, find another lawyer who you are comfortable with.
2007-07-13 14:14:10 · answer #7 · answered by M S 2 · 0⤊ 0⤋
That would depend on the contingency agreement. Some states have laws limiting the % that can be collected from a contigency lawsuit. Also, some states also limit the amount that can be added to the % to cover the lawyer's expenses (investigation, postage, etc.). In my state, the limit is 33.3%, for both contigency and expense...
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2007-07-13 14:14:30 · answer #8 · answered by Ben H 5 · 0⤊ 0⤋
I urge a Uniform Pay system for Lawyer & Client based on Size of Reward.
Lawyer should get less: .10% of award under X$$$$ dollars.
Over X$ maybe 10%.
Otherwise NO.
Plus some charge 400.00 hr for just chatting with you about your case etc anyway
So Yes IT should LESS for all cases under 1M plus.
By judge decree.
NATIONWIDE.
2007-07-13 14:34:50 · answer #9 · answered by STEPHEN R 5 · 0⤊ 0⤋
It is about 85% in the UK and the victim pays about £ 10 000 costs to his lawyer if he loses.
2007-07-13 14:37:22 · answer #10 · answered by Anonymous · 0⤊ 0⤋